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Salary Secrets and Myths

Jeanne Sahadi at CNNMoney has written a guide to salary secrets and myths. “Employers seem to have the better hand in pay negotiations,” she writes. “But here are six ways to better read the cards they hold.” As a small business owner myself, I think Sahadi’s points are, well, on the money.

Secret: There’s more raise where that came from. If you’re an asset to the company, there’s always more money. One of our best employees quit last spring. We offered him more if he would stay. (And we would have offered him more yet!) He was that valuable to us. But other circumstances forced him to move.

Myth: Bosses pay more if they like you. In reality, bosses pay more if you make their job easier. You may be on friendly terms with the boss, but if you’re not a good employee, you’re not going to be paid as much as you could.

Myth: You can’t negotiate severance. The truth is that you may be able to negotiate severance if you possess some sort of leverage: you’re the key liaison with a big customer, you’re the only one who knows how to perform some critical task, etc.

I work for the U.S. government (specifically the Army), where there is no such thing as negotiating a salary or raise. We do get performance bonuses, like on-the-spot cash or paid time off, but again, there’s no negotiating that. Honestly, I like this way, because in old jobs I was never very comfortable asking for raises.

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